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Principles of Business - Ch 5 Business in a Global Economy Flashcards | StudBud
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Principles of Business - Ch 5 Business in a Global Economy
Principles of Business - Ch 5 Business in a Global Economy
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#Business in a Global Economy #5 #PrincBus #PBMF #Principles of Business
Flashcards
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Questions
35
Answers
1
A business that operates in more than one country is called a _
international business
multinational corporation
international trade business
exported business
2
A partnership of 2+ companies that work together for a specific business purpose is called.
joint venture
corporation
partnership
franchise
3
Total amount of money that comes in to a country, minus the total amount of money that goes out
trade deficit
trade sanction
balance of trade
balance of payments
4
Having people from different backgrounds, cultures, or demographics coming together in a group.
exports
trades
diveristy
culture
5
Which is
NOT
a common consideration involved in taking business to another country
diverse workforce
logistics
labor laws
balance of trade
6
Person or company that buys the rights to use a brand.
operator
supplier
producer
franchisee
7
A government tax on imported goods.
trade sanction
exchange rate
tariff
import fee
8
An embargo that affects only certain goods.
trade deficit
trade sanction
balance of trade
diversity
9
The use of English by people with a different native language.
ELL
English as a second language
Non-english
ELA
10
A limit on the amount of a product imported into a country during a specific time period
quota
import
tariff
export
11
When a business sells the right to manufacture its products or use its trademark.
Licensing
Granting
Distribution
Foreign operations
12
A government may impose a _ on imported goods to protect domestic businesses.
export
tariff
international business
import
13
All the business activity involved in making, buying, & selling product within a nations border
export
domestic business
trade
tariff
14
In return for a franchise fee and royalties-the _ provides standards and procedures to the comp
franchisor
owner
culture
partner
15
Parent company that owns a chain and the brand.
wholesaler
manufacturer
franchisor
partnership
16
The connection made among nations when economies freely move goods/money across border
Nationalization
Globalization
Monetization
Economization
17
Which country is the United States largest trading partner?
Mexico
Japan
Canada
China
18
An international _ allows a company to enter a foreign market without assuming all the risk.
business
joint venture
tariff
transportation
19
Negative balance of trade.
trade sanction
trade deficit
20
Planning and managing the flow of goods, services, and people to a destination is _.
shipments
transportation
distribution
logistics
21
A group of countries that join together to trade as if they are a single country.
diversity
trade bloc
trade group
culture
22
A body of laws related to the exchange of goods and services for international trade.
trade policy
balance of trade payments
trade agreement
trade deficit
23
The difference between a nation's exports and its imports.
balance of trade
balance of payments
24
When a country can produce goods more efficiently and at a lower cost than another country.
trade deficit
comparative advantage
balance of payments
absolute advantage
25
Currency with an exchange rate set by the market forces of supply/demand in the foreign market
comparative currency
floating currency
culture currency
balance currency
26
The difference between a nation's exports and its imports.
balance of trade
quota
system of taxes
balance of payments
27
A group of countries that have reduced or eliminated trade barriers among themselves.
embargo
union
free-trade zone
comparative advantage
28
The goods and services produced within a country's borders and sold in another country are _.
imports
exports
tariffs
international business
29
The business activity involved in making/buying/selling product within a nation's borders is _
export business
domestic business
import business
international business
30
The process of sending and receiving messages between people of various cultures.
Trans-communication
Non-verbal communication
Verbal communication
Intercultural communication
31
The shared beliefs, customs, practices, & social behavior of a particular group or nation.
religion
culture
dynasty
ideal
32
Any government action taken to control or limit the amount of imports.
distribution
balance of trade
free-trade zone
trade barrier
33
The document listing the conditions & terms for importing/exporting products between countries
quota
trade policy
balance of payment
trade agreement
34
The cost to convert one currency into another.
trade sanction
foreign exchange rate
balance of payments
balance of trade
35
When a country specialized in producing a product at which it is relatively more efficient.
tariff advantage
absolute advantage
trade advantage
comparative advantage
